XLM/USD (Stellar) Price; Buyers Are Gaining Upper Hand

XLM/USD (Stellar) Price; Buyers Are Gaining Upper Hand

STELLAR Price Analysis – June 02

When the bulls increase their momentum, the price will break up the resistance level of $0.50, and the price may increase to the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22.

Key Levels:

Resistance levels: $0.50, $0.57, $0.67

Support levels: $0.42, $0.33, $0.22

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. The bulls are gradually taken over the stellar market after many days of bearish trend. Last week, the bears were in control of the market. The bearish momentum pushed the price to test the low of $0.33 before it bounces to test the $0.42 level. The bears’ pressure is getting exhausted and that of the bulls is increasing. There is tendency for the bulls to dominate the market.

XLMUSD daily chart, June 02

 

Stellar price is increasing, penetrating the 9 periods EMA and 21 periods EMA upside which connote an increase in bullish momentum. When the bulls increase their momentum, the price will break up the resistance level of $0.50, and the price may increase to the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22. The relative strength index period 14 is bending up at 45 levels to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. The bearish momentum in the Stellar market is lower compare to that of the bulls. The price is increasing slowly to break up $0.42 levels. Price may continue to increase provided the bulls maintain or increase their pressure.

XLMUSD 4 hour chart, June 02

The price has crossed the 9 periods EMA and the 21 periods EMA upside and it is trading above the two EMAs. The Relative Strength Index period 14 is at 60 levels pointing up to indicate buy signal.

You can purchase crypto coins here: Buy coins

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.